Executives of Lloyd's operations now look to Bermuda for a lot more than shorts and onions, setting their sights on the island to pursue new business opportunities and get some relief from the tax man.
Last month, Kiln said it will soon operate under a Bermuda holding company known as Kiln Ltd., and establish a newly incorporated Class 3 Bermudian insurer–Kiln Re–joining other London entities in making the move.
“We believe Bermuda offers considerable opportunities that will help us continue the international expansion that began to gather momentum in 2006,” Edward Creasy, Kiln's chief executive officer, said in a statement.
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